The primary thing you might think of when you mention estate planning is the transfer of assets. Yet that is only part of it. Another crucial object of estate planning is to put a team of people in place in case several situations occur.
Here are four crucial roles to fill:
They implement the wishes you set out in your estate plan. They must review it, gather information about your assets, notify certain people, settle outstanding debts using the money in your estate then distribute the remainder as per your instructions.
If you have children under the age of 18, you should put a guardian in place now. Hopefully, you will still be around long after your kids become adults, but if you are not, then someone needs to raise them and take legal responsibility for them.
A health care power of attorney
They can make decisions about your health if you cannot due to illness. For example, if you were in a serious car crash and the doctors wondered whether or not to keep you on life support, this person can tell them. You can help them out by writing out the decisions you would make in such cases.
A financial power of attorney
You decide what areas to let them control. They can do things such as access your bank account to pay the bills or sign legal documents such as for selling the house to pay for your treatment. They only get that power in the case that you cannot do these things yourself.
Those are all high-trust roles. Think carefully about who you choose, then get legal help to record your choices in your estate plan.